Earnings Per Share

9 Months Ended

Sep. 30, 2016

In accordance with GAAP, dual presentation of basic and diluted earnings per share is presented in the Condensed Consolidated Statements of Earnings of PNMR. Information regarding the computation of earnings per share is as follows:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
	(In thousands, except per share amounts)
Net Earnings Attributable to PNMR	$	54,418	$	61,045	$	92,040	$	107,058
Average Number of Common Shares:
Outstanding during period	79,654		79,654		79,654		79,654
Vested awards of restricted stock	96		100		99		103
Average Shares – Basic	79,750		79,754		79,753		79,757
Dilutive Effect of Common Stock Equivalents:
Stock options and restricted stock	367		362		377		377
Average Shares – Diluted	80,117		80,116		80,130		80,134
Net Earnings Per Share of Common Stock:
Basic	$	0.68	$	0.77	$	1.15	$	1.34
Diluted	$	0.68	$	0.76	$	1.15	$	1.34